Canfor 3-month chart

Canfor has announced the permanent closure of its Clear Lake sawmill operation near Prince George, B.C. — a decision that will cost 185 people their jobs.

The Vancouver-based lumber company issued a news release late Wednesday saying the operation would shut down on Jan. 13 next year.

Canfor blamed "challenging markets" caused by the long slide in U.S. homebuilding and what it called "a lack of economic long-term fibre supply" for the Clear Lake operation.

The shutting of Clear Lake will remove 130 million board feet of annualized lumber production from the market.

"We remain committed to our highly valued customer base, while being responsive to market demands and pressures," said Canfor CEO Jim Shepard in a release. 

The closure will see the company take a $12-million charge to its third-quarter earnings.